Current Attempt in Progress Jorgensen Corporation uses standard costs with its job order cost accounting system. In January, an order (Job No. 12) for 1,000 units of Product B was received. The standard cost of one unit of Product B is as follows. Normal capacity for the month was 4,500 machine hours. During January, the following transactions applicable to Job No. 12 occurred. 1. Purchased 3,100 pounds of raw materials on account at $1.44 per pound. 2. Requisitioned 3,100 pounds of raw materials for Job No. 12. 3. Incurred 1,580 hours of direct labor at a rate of $8.90 per hour. 4. Worked 1,580 hours of direct labor on Job No. 12. 5. Incurred manufacturing overhead on account $17,090. 6. Applied overhead to Job No. 12 on basis of standard machine hours allowed. 7. Completed Job No. 12. 8. Billed customer for Job No. 12 at a selling price of $80,000. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) 8. Accounts Receivable 80,000 Sales Revenue 80,000 (To record sales.) Cost of Goods Sold 33,100 Finished Goods Inventory 33,100 (To record cost of goods sold.) List of Accounts Accounts Payable Accounts Receivable Cost of Goods Sold Factory Labor Factory Wages Payable Finished Goods Inventory Labor Price Variance Labor Quantity Variance Manufacturing Overhead Materials Price Variance Materials Quantity Variance Overhead Variance Raw Materials Inventory Sales Revenue Selling and Administrative Expenses Work in Process Inventory